The Smartest Things We've Read About the Demise of MF Global

Karl Marx famously said that "history repeats itself, first as tragedy, second as farce."

The very idea that MF Global could blow itself up by taking excessive risks, so soon after the financial crisis of 2008, surely places it in the category of farce. Sadly, there's nothing funny about this debacle to the customers, employees, and shareholders who were negatively affected by it. A mere three years after the collective folly of the financial crisis, and we appear to be back at square one.

When he announced his resignation on Friday, MF Global CEO Jon Corzine said he felt "great sadness for what has transpired." Yes, it is very sad on a number of different levels. It is also outrageous and incomprehensible and unacceptable, too. Americans deserve to know exactly what went wrong here, and we intend to follow this story very closely in the coming weeks and months. Below are some of the finest things we've read about this story so far.

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